Netflix gave a detailed explanation of why it won’t sell advertising, but it’s still working with brands in other ways (NFLX)

Netflix on Tuesday gave its most detailed explanation yet for why it won’t sell advertising.
It doesn’t want to spend money trying to challenge online-advertising giants like Google and Facebook, CEO Reed Hastings said.
It also wants “none of the controversy around exploiting users with advertising,” Hastings said.
Still, Netflix has been cozying up to brands in other ways, including more product placements, brand partnerships, and consumer products, as Business Insider has covered closely.Visit Business Insider’s homepage for more stories.

Netflix is beefing up its explanation for why it won’t sell advertising, as a small contingent of Wall Street firms continue to push the company to consider new revenue streams.